https://www.taxtmi.com/caselaws?id=40965 Excise valuation under Section 4 required the assessable value to be the wholesale cash price in an arm's length sale in the ordinary course of business. Sales to industrial consumers were not treated as the relevant wholesale market, and on the facts the distributor transactions were found not to be at arm's length because of common management links. The alleged overpayment was therefore not shown to arise from a mistake of law; at most, there was a possible misapplication of the settled principle to the facts. A refund was accordingly not available, particularly since the original assessment was not appealed. en-us Fri, 19 Sep 1980 00:00:00 +0530 Tue, 18 May 2010 15:51:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40965 Excise valuation under Section 4 required the assessable value to be the wholesale cash price in an arm's length sale in the ordinary course of business. Sales to industrial consumers were not treated as the relevant wholesale market, and on the facts the distributor transactions were found not to be at arm's length because of common management links. The alleged overpayment was therefore not shown to arise from a mistake of law; at most, there was a possible misapplication of the settled principle to the facts. A refund was accordingly not available, particularly since the original assessment was not appealed. Case-Laws Central Excise Fri, 19 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40965